Money advice scheme for young people reaches milestone

A MONEY advice service to help young people manage their finances is heading for its 1,000th client after just one year.

Know Your Money – Keep the Change (KYM) was set up by a partnership including Erimus Housing, to work exclusively with clients aged 16-24.

The scheme, supported by a Big Lottery grant, was developed to help young social housing tenants or children of older tenants in Middlesbrough become more financially confident in dealing with bills and benefits.

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The scheme has proved to be such a success that it soon expanded to take in a wider range of people across the Tees Valley.

As well as access to the internet and job-hunting guidance, young people are taught about basic finance and can return to KYM’s base at Corporation Road, Middlesbrough, for updates and top-up sessions.

Team leader Nathan James said it was an important milestone for his team to achieve 943 clients in the first 12 months.

He said: “We have over-achieved from the first day and the whole offering has taken off very quickly. There was nothing like this for young people where they could get advice as well as ongoing support.

“We help them become more employable and add any specialist skills they need.”

As it starts its second year, KYM is working with schools to help more youngsters and is planning to launch a roadshow, taking its skills out into the estates.

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